Kuwaiti Fund Lends Morocco $ 22.5 Mln For Energy Projects

The Kuwaiti Development Fund lent Morocco $ 22.5 million for the partial financing of the construction of two power plants to cost about $ 95 Mln.

The loan accords were signed Friday in Rabat by Moroccan Finance minister Fathallah Oualalou and Head of the Kuwaiti Fund, Badr Mechari El Hmidi.

The Kuwaiti fund has so far extended Morocco 24 loans totalling over $ 600 Mln injected in various infrastructure projects such as roads, dams, irrigation, rural electrification and drinking water supply.